With most potential buyers remaining housebound during the various iterations of the Movement Control Orders (MCOs), industry players have been adapting and restrategising. While many restrictions have been lifted under the Recovery MCO that will be in place until Aug 31, life will not go back to normal as yet. OSK Property Holdings Bhd has restrategised to reach its audience and plans to carry on with selected launches.
The group says it will hold fewer launches this year. It is looking at a combined gross development value (GDV) of RM311.9 million and is focusing on the townships of Iringan Bayu in Seremban, Negeri Sembilan, and Yarra Park in Sungai Petani, Kedah.
“We will continue to pursue land banking opportunities for our long-term growth. As at end-2019, we had 1,464 acres of developable land with an estimated GDV of RM10.5 billion in Malaysia, and [a development with] a GDV of RM2.3 billion in Melbourne, Australia,” OSK Property CEO Ong Ghee Bin tells City & Country in an email interview.
“OSK Property will be adapting to the new normal in its product offerings moving forward. We will focus on building affordably priced ‘essential homes’ in strategic locations,” he says.
“Essential homes are in developments that focus on fundamental requirements with selected key facilities and a balance of greenery and sustainable features. We will be incorporating this product into our future launches in Melawati in Selangor, Sentul in Kuala Lumpur and Rubika in Butterworth,” he notes.
“With the Covid-19 outbreak, we have noticed a drastic shift in consumer behaviour, with most people wary of making significant financial decisions such as buying a property.